757 Prince Rupert Avenue

Property Overview: 757 Prince Rupert Avenue, Winnipeg

Key Characteristics & Appeal

This 1955-built bungalow in Munroe East presents a practical and straightforward homeownership opportunity. With 965 sqft of living space, the house itself is very typical for its immediate area and neighbourhood, offering a manageable layout for a small household. Its standout feature is the 5,177 sqft lot, which is notably larger than many on Prince Rupert Avenue, placing it in the top 20% for lot size on the street. This provides valuable outdoor space and potential not always found in homes of this vintage and style.

The appeal here is grounded in value and stability. The assessed value is consistent with area norms, and the home last sold in the 2021 market. It suits first-time buyers seeking an entry point into the market without a massive renovation project, or investors looking for a stable rental property in an established neighbourhood. The larger lot is a key asset, offering more privacy, room for gardening, or future expansion compared to neighbouring properties, which is a less obvious but significant advantage.

Frequently Asked Questions

1. How does this home compare to others in the area?
The home is very average in terms of living space, age, and assessed value for Munroe East. Its primary comparative advantage is its lot size, which is above average for the specific street.

2. What does the sold price history indicate?
It sold between $250,000 and $300,000 in 2021. This provides a benchmark for the home's market value from that period, but does not reflect current market conditions.

3. Is the assessed value the same as the market value?
No. The assessed value (approximately $30,300) is used for calculating municipal property taxes. Market value is determined by what a buyer is willing to pay in the current market, which is often different.

4. What are the implications of the home being built in 1955?
As a home from the mid-1950s, prospective buyers should budget for updates to major aging components like plumbing, electrical, windows, and the roof. A thorough inspection is essential.

5. Why is the city-wide average living area much higher?
The city-wide average (1,342 sqft) includes a vast number of newer and larger suburban homes. This property's below-average ranking city-wide simply reflects its older, more compact bungalow style compared to the full Winnipeg housing stock.